The 365km Norther Toll Road linking Pativilca and Puerto Salaverry down the Peruvian coastline has secured the financial closure.  

Clifford Chance has advised Sumitomo Mitsui Banking Corporation (SMBC), Credicorp Capital Servicios Financieros, Banco de Crédito del Perú, Banco Santander, S.A., Itaú Corpbanca New York Branch, Inter-American Investment Corporation, Crédit Agricole Corporate and Investment Bank and ING Bank N.V., Dublin Branch, in connection with the US$350 million senior secured financing for the PPP project.

The funds will be used to refinance the existing facility provided to the Autopista del Norte, a subsidiary of transportation and infrastructure company Aleatica. The transaction closed on 13 August.

The Northern Toll Road, which connects the cities of Pativilca and Trujillo, in the south and the north of the country respectively, holds an annual average daily traffic of 35,954. The 365-km-long road is a part of the Pan American Highway North, a major road link running along the Peruvian coast.

The Norther Toll Road concession will have a duration of 25 years and will be valued at USD 454 million.